Oil may rise after US reports
The trade and economic confrontation between the United States and China weakens the rating of President Donald Trump but causes optimism in financial markets.
Gold first declined in Asian markets, but then began to recover. On Wednesday, traders awaiting US reports on a reduction in crude oil inventories.
15:30 (GMT+3) producer price index (PPI) for August will be published in the United States. It is expected to increase by 0.1%.
17:30 (GMT+3) The United States will present a weekly report on crude oil reserves. Analysts forecast a decrease in reserves of -2.6 million barrels and a further increase in raw material resources.
Oil. Oil continues to grow on Wednesday after data from the American Petroleum Institute (API) on a massive reduction in US crude oil and gasoline reserves. On the morning of September 11, WTI crude oil is $57.9. Brent futures are trading near $62.9.
Gold. Gold fell below $1,500. On Wednesday, precious metals strengthened by 0.33% and traded at around $1,490.
Currency. On Wednesday, the DXY dollar index is growing at 0.08%. In the morning, DXY is 98.4 against a basket of major currencies.
On the morning of September 11, the dollar is rising against the yen. In the morning, the pair USD/JPY is trading at 107.79.
The euro (EUR) is under pressure due to a slowdown in the economies of the eurozone. On Wednesday, the single currency is getting cheaper by -0.14%. In the morning, the EUR/USD pair is trading near 1.1035.
The pound (GBP) rose on Tuesday after the British Parliament passed a law according to which a country cannot leave the EU on October 31 without a deal. On the morning of September 11, the GBP/USD pair is down -0.27% and is trading at around 1.2367.
Cryptocurrency . Bitcoin (BTC) drops on Wednesday by -0.48% and is trading at $10,045. In the morning, Ethereum (ETH) drops by -0.7% and is trading near $178.7. The Litecoin (LTC) exchange rate on September 11 is $70.7.
(Interval one day)
Important. This article contains no calls to make deals or trading recommendations. Traders are responsible for their decisions. The judgments presented here are the personal opinions of the author.